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Chase Bank Limits Cash Withdrawals, Bans International... Before you read this report, remember to sign up to http://pennystockpaycheck.com for 100% free stock alerts Chase Bank has moved to limit cash withdrawals while banning business customers from sending...

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Richemont chairman Johann Rupert to take 'grey gap... Billionaire 62-year-old to take 12 months off from Cartier and Montblanc luxury goods groupRichemont's chairman and founder Johann Rupert is to take a year off from September, leaving management of the...

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Spate of recent shock departures by 50-something CEOs While the rising financial rewards of running a modern multinational have been well publicised, executive recruiters say the pressures of the job have also been ratcheted upOn approaching his 60th birthday...

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UK Uncut loses legal challenge over Goldman Sachs tax... While judge agreed the deal was 'not a glorious episode in the history of the Revenue', he ruled it was not unlawfulCampaign group UK Uncut Legal Action has lost its high court challenge over the legality...

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Dimon a Winner? Please

Category : Business

NEW YORK (Real Money) — Did Jamie Dimon do well, or did he do badly in front of Congress?

Frankly, I don’t care. I care about how well or badly he’s doing running JPMorgan and I’m still steamed about the trading loss that his firm racked up in London.

First, not all banking losses are created equally. A firm can make a loan to a client that blows up. That’s the cost of doing banking business. A firm can make a wrong bet on the direction of a market, something I don’t care for, but the bank has a right to do it and do it all of the time. I particularly don’t like it if the firm’s directional bet is out of synch with that the firm itself is recommending to its own clients. JPMorgan’s been the most prescient firm in the world when it comes to Europe, with the most consistent view possible during this whole crisis, which is to stay away from everything, stocks, bonds, you name it. …

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